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Alan Shearer – Hands on the Purse Strings?

Posted on June 2nd, 2009 | 4 Comments |

Is Shearers spending spree about to be announced?
Is Shearers spending spree about to be announced?
We have heard more details emerging over the last few days that Alan Shearer has held talks with Mike and Derek re an honest assessment of the clubs needs going forward……….

  • We also know Mike decided to sell the club – although we dont know if this was decided during the final run in or is a recent decision.
  • We do know Alan has stated Mike is doing for the best of the club and fans. 
  • We do know that Barclays have been approached to allow NUFC a 40million overdraft facility. This is to rebuild the cluba nd no doubt to cover any shortfall of revenue this coming season – although the parachute payment from the Premier League  will help us greatly.

It is blindingly obvious that a promotion push has to be started right now.

One point of note: If Mike Ashley is engineering an overdraft to finance the club – it is apparent that his loan will take secondary staus to the first charge which will belong to the bank.

Therefore the conclusion is Mike has in effect accepted and given NUFC 150million from his own pocket – a cost no doubt many of you will believe is just – after the turmoil this year.

My own view is that 150million is an incredible amount of money, and Mike should be thanked for repaying for what another regime “Removed or Wasted”

The final assumption I am drawing to this point is that Shearer’s appointment to oversee this phase will be:

  • Agreeable to any current interested purchase parties.
  • Agreeable to Ashley (who in effect is still picking up this 40 million tab until sold)
  • Part of a Short term structure to rebuild.

All in all it looks like Ashleys decision to withdraw is for the substantial benefit to him and all NUFC fans. 

We await with interest the next few days.

NUFCBlog Author: Stardust Stardust has written 15 articles on this blog.

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4 Responses

  1. The debate im currently having with myself if whether shearer is to be appointed before or after, with or without the agreement of a new owner?

    If Ahsley appoints him, will it draw in an owner now that Shearer is on board, give the club more appeal?

    But what would be better publicly for a peace offering to the fans then the new owner to walk out and present shearer as our full time official manager.

    And will the new owners realy want shearer? dont doubt his heart, but no experience?

    I’m terrified whats to come before next season, we are already weeks behind the rest of the championship teams, and being sold, managerless, funds or no funds, its gonna take a strong leader willing to make big decisions in a short period of time to give us hope for next year.

  2. Personally Monkey – despite what folks say – they will have all talked about it. I think Ashley and Alan seem to get on well, and will have talked openly and honestly about how best to go on.

    I expect if there is real interest there from prospective buyers – they will have been consulted.

    If he is now simply advertising for buyers, well they will be happy that progression is being made in a sensible way

    He says crossing his fingers.

  3. I think the club will be more appealing to a buyer if it’s prepared for the upcoming season. And to do that we really need to get a manager in place.

    However, if a long-term manager is appointed now and a potential buyer doesn’t favour him it probably won’t go down too well.

    I’m guessing Ashley will appoint someone – probably Shearer, possible even Kinnear if something breaks down with the Shearer situation – on either a short-term contract (maybe 8-12 weeks) or as a permanent manager with a very big clause saying that the new owners can dismiss him without any financial penalty.

  4. Yeah Hugh – thats why I assert that if there are new buyers in the midst that they will be consulted – its an unusual thing to do – but football isnt a usual business.